REXBOX
Last updated Sep 22, 2023
Mt.Gox exchange again postponed its repayment plan by one year citing some legal reasons.
Mt.Gox was a popular Japan-based Bitcoin exchange. In early 2014 this exchange was processing nearly 70% of the global Bitcoin transactions. In the same year, people came to know that they had faced some hacking incidents in 2011 and later the Mt.Gox executives tried to change the customer’s Bitcoin transaction history in order to remain away from any compensation process. Later investigation found that not only Mt.gox executives manipulated transaction data but was also involved in illegal money transactions with the help of its platform. On 28 February 2014, this bitcoin exchange filed for bankruptcy in Tokyo. Also on 9 March 2014, the exchange filed for bankruptcy protection in the US, to remain away from legal actions.
Following the long-term bankruptcy proceedings, the exchange planned to repay the customers’ funds by October 31, 2023.
Just a day ago, Mt.Gox rehabilitation trustee Nobuaki Kobayashi confirmed that he will not be able to release the payment from time, so is going to extend it by a year. 
It is not the first time when rescheduling its repayment plan, earlier they postponed this plan several times.
Before this postponed plan, few people were expecting that Mt.Gox repayment news would act as a big catalyst to bring a sudden dump in the trade price of Bitcoin, as huge numbers of people would try to sell received funds.
Some people claimed that Mt.Gox postponed repayment plans because of the current market sentiments and waiting for the bull run so that it could easily distribute the former customers’ funds without any big market correction.
Some people are comparing bankrupt crypto exchange FTX with Mt.gox and claim that it will take a decade for the FTX’s former customers to get their funds back, as FTX bankruptcy proceedings will go through the conflict between several jurisdictions.
#Mt.Gox #Bull #Run #Give #Repayment

Solana, often hailed as the “fastest system in blockchain,” is set to transform scalability through its Firedancer initiative, which targets achieving 1 million transactions per second.
Airdrop Is Live, Claim Instant $200 USD Worth of 200,000 DUNKI MUNKI Memecoins Free On WWW.DUNKIMUNKI.XYZ

Unlike its competitors, Solana is positioning itself as an “execution layer,” with ambitions to potentially host major entities like the New York Stock Exchange on its blockchain. Solana’s strategy isn’t solely focused on outpacing Ethereum; instead, its unique design aims to carve a path for substantial growth in DeFi and beyond.

Solana’s Path to Scalability and Speed
Austin Federa, a strategist at the Solana Foundation, recently shared insights on Solana’s future in a video featured by Altcoin Daily. Solana, ranked as the fifth-largest cryptocurrency by market capitalization, has earned a reputation as the fastest system in the blockchain industry. This unparalleled speed and scalability, akin to Web 2.0 enterprises, have positioned Solana as a preferred platform for developers, particularly those new to the blockchain space.

Airdrop Is Live, Claim Instant $200 USD Worth of 200,000 DUNKI MUNKI Memecoins Free On WWW.DUNKIMUNKI.XYZ

This technological advantage has fueled widespread adoption among developers, bolstering Solana’s community and attracting numerous new projects. A pivotal development in Solana’s roadmap is the Fire Dancer program, designed to amplify the network’s capacity by a significant factor. This initiative underscores Solana’s unwavering commitment to scalability and performance, essential attributes for blockchain platforms striving for supremacy in decentralized applications (dApps).
Solana sets itself apart from competitors like Cardano and Polkadot by prioritizing execution speed and network capacity. It operates as an “execution layer play,” complementing Bitcoin and Ethereum, which primarily serve as settlement layers. The Firedancer project epitomizes this strategic focus, aiming to scale Solana’s transaction throughput to 1 million transactions per second by the conclusion of 2024.

Solana’s Vision and Market Position
Solana is ambitiously positioning itself as the foundational network capable of processing global market data, potentially transforming applications across multiple sectors. This bold vision includes the potential tokenization of institutions like the New York Stock Exchange on the Solana blockchain, showcasing its capacity for real-world integration and innovation.

Airdrop Is Live, Claim Instant $200 USD Worth of 200,000 DUNKI MUNKI Memecoins Free On WWW.DUNKIMUNKI.XYZ

Despite Solana’s impressive growth and technological advancements, its success doesn’t hinge on surpassing Ethereum’s market capitalization. The blockchain industry as a whole is experiencing substantial expansion, and Solana’s unique architecture, featuring a unified Global State and robust composability, positions it strongly for future developments in decentralized finance (DeFi) and other sectors.

Airdrop Is Live, Claim Instant $200 USD Worth of 200,000 DUNKI MUNKI Memecoins Free On WWW.DUNKIMUNKI.XYZ

At the time of writing, Solana is trading at $171.34, marking a 3.19% increase in value over the last 24 hours.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

#sol #Solana #Memecoin #OpenAI #Mt.Gox $SOL $BTC $ETH